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Hilarious magazine covers reveal the emperor has no clothes

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From a terrific Gawker piece, look at these magazine covers. Notice anything?

They’re all the same!

Magazines are designed to sell advertising, not good financial advice. Yet millions of Americans get their kooky investing ideas from so-called personal-finance magazines. This is why people think “stocks=investing” and are fascinated by alternative investments, but don’t know the first thing about setting up a system to automate their finances and investing.

I’ve written extensively on the media and personal finance:

…and other rants about dumb people.

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  1. Quote from early 2007’s post: “The media is atrociously bad at prediction and I’m sick of it”:

    “In another example, Robert Roubini, president of Roubini Global Economics and some pundit, predicted a 2007 recession, the likes of which we haven’t seen in over a decade: “By itself this slump is enough to trigger a U.S. recession: its effects on real residential investment, wealth and consumption, and employment will be more severe than the tech bust that triggered the 2001 recession.” Hmm.”

    Hmm. And it ironically illustrates your point about how no one’s good at prediction. A post truly brilliant in an error. But seriously, thanks for pointing out this Gawker post.

    • Great comment. I’m as skeptical of my predictive abilities as anyone else’s. That’s why I advocate indexing and dollar-cost averaging no matter what you think will happen. You can’t time the market.

      I am always skeptical of doomsayers and Chicken Little people, who love to spout gloom and doom with no specifics or accountability, using it as an excuse to not invest. Instead, I continue investing because I believe that, over the long term, investment returns in the market will handily trump gold, commodities, or virtually any other investment — as history has shown to be the case.

  2. Here’s the more in-depth story about this: — less shocker than Ramit makes it out to be. Alas.

    Bottom line: newstand version of a magazine recycles the eye-catching headlines, subscriber version has more variety. Makes sense.

  3. Yeah, but eye-candy is eye-candy, and what a way to start the day! 😀

    Also why I never buy magazines. At most, a copy of the Economist if I’m planning on spending a boatload of time on the train, but if you’ve read one, you’ve read ’em all.

  4. Boy, this is better than coffee!! In a minute, I’ll get to the point of the blog, but right now, thank you!

  5. Not sure I’m understanding the point of this blog, or the tie in to personal finances?

    So Men’s Health makes multiple covers for each magazine. What is the problem with that?

  6. How is this different from “I will teach you to be rich” and other blogs, financial sites, etc.? I am sure that writers of popular personal finance magazines do not set out to deliberately mislead the public. They are probably just as convinced as you are that they are giving their readers the correct view of personal finance and good advice. They are also as much in it to make a living out of sharing their views as you are. The good news is that some, maybe only few, but still some benefit from any one these magazines, from blogs, various financial sites, etc.

  7. Gawker’s sister site, Jezebel, has done similar comparisons with women’s magazines from pretty far back – some of these headlines are recycled from the 1950s. It goes to show, though, that there’s a difference between truth and education vs. selling a magazine.

  8. I can’t say that I’m surprised, but I can’t get mad about it. I can’t say that I expect much more from Men’s Health than something to skim at the barber shop, in the gym or at the doctor’s office while I’m waiting. Outside of magazines that deal with actual news, content is gonna get recycled at some point. Doesn’t matter if it’s one of the gazillion women’s style magazines, a cooking magazine or something relating to a sport, like Runner’s World, there’s only so many times you can write an article about how to work your abs, try something new in the bedroom, new fashions, how to make a casserole or run your first 5K.

    • Totally agree, Runner’s World is interesting to read but content is highly recycled. Some good in-depth articles now and then but once you have 12 issues in your library you could cancel your subscription.

      All the personal finance mags pretty much suck.

    • The one magazine that’s been pretty decent for a while for athletics/fitness/outdoors has been “Outside”. They do, of course, recycle some content, but a lot of the articles about other stuff are really well-written and interesting.

  9. There’s words on these covers?

  10. How bout ” succesful saving magazine ” ?

    Naa.. just kidding. Its just a fictional magazine from movie “confession of a shopaholic”.
    yea…. agree.. magazine is just a promotional tool with some content added.

    However I use magazine a motivational tool for whatever I’m trying to achive. If I wanna excercise more I read “men’s health”.. if I wanna run more I read “runner’s world”.. etc.